Canada enjoyed an economic and fiscal renaissance starting in the mid-1990s that lasted more than a decade.
income tax
The Liberal campaign platform has some laudable goals. However, one of the worrying policy initiatives, and one that is hopefully de-prioritized, is the raising of the top marginal federal tax rate on personal income from 29 to 33 per cent.
Filed your taxes yet? You’ve got until Thursday at midnight. After that, according to the federal government, you’re officially in arrears.
With tax season at hand, here’s a useful tip for any tax-weary Canadian. When some people refer to income or other money not taxed as a “loss” to government, remember that they may merely be using technical language. In contrast, others really do lament any reduction or “omission” in possible taxes that flow to governments.
With tumbling oil prices and resource revenues, Premier Jim Prentice had a choice when he delivered Alberta’s 2015 budget. He could emulate former premier Don Getty and raise taxes or follow the Ralph Klein playbook and reduce spending.
Premier Jim Prentice dropped hints for months that the 2015 provincial budget was a once-in-a-generation chance to “fix” Alberta’s finances.
Against the backdrop of a sluggish and uncertain economy, B.C. Finance Minister Mike de Jong unveiled a largely status quo budget on Tuesday.
After governments abandon fiscal prudence, they will soon search for any and all ways to tax people more. This is the reality playing out in Alberta where Premier Jim Prentice has floated multiple tax increase trial balloons.
With oil prices plunging and provincial resource revenues expected to drop, Alberta’s red ink will rise. In response, Premier Jim Prentice has floated the notion of a provincial sales tax and/or hikes in other taxes.